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Finance committee approves claims docket after discussion of $100,453.71 in PERF makeup payments
Summary
Michigan City’s finance committee approved the claims docket after questions about five Indiana public retirement (PERF) makeup payments totaling $100,453.71; officials said a $400,000 appropriation should cover the city’s liability through the end of the year if employees finalize arrangements with PERF.
The Michigan City Common Council Finance Committee approved the claims docket on June 2 after members questioned several Indiana public retirement (PERF) makeup payments and received explanations from city finance staff.
Councilmember Mr. Beatatri asked whether five PERF line items—together totaling $100,453.71—were related to recently appropriated funds. The City Controller replied that those charges are makeup contributions the city began paying after the council approved an appropriation and that the city could only pay up to each employee’s eligibility date for a retirement option the controller described during the meeting.
The controller said employees must contact PERF to finalize how their past contributions are reconciled, and that PERF has requested the city start making payments. The controller explained that PERF may offer recalculations or payment plans rather than requiring a single lump-sum payment and that the city is limited in how much it can advance until the employee’s eligibility and election are resolved.
On the city’s overall liability, city staff and members said a previously requested $400,000 appropriation is expected to cover contributions through the end of the year provided employees coordinate with PERF and accept arrangements. The controller cautioned that if employees do not make those arrangements, the city could still be responsible for additional contributions beyond the current appropriation.
City finance staff also read items from the claims docket and fund balances. The controller reported five PERF payments totaling $100,453.71, rainy day fund claims totaling $11,883.71, and a total claims docket of $14,590.71. Reported fund balances were riverboat fund $5,243,891.23 and rainy day fund $1,221,356.71, for combined funds of $6,465,247.94.
A motion to approve the claims docket was made, seconded and approved; the chair recorded “None opposed.” The committee then moved to other business.
The meeting item concluded with staff noting that affected employees remain responsible for finalizing arrangements with PERF and that the city is proceeding with payments requested by PERF.
